The president of a staffing company today admitted defrauding a commercial finance lending company out of more than $400,000, U.S. Attorney Craig Carpenito announced.

Jeremy Hare, 47, of Philadelphia, pleaded guilty today before U.S. District Judge Renee Marie Bumb in Camden federal court to an information charging him with wire fraud.

According to documents filed in the case and statements made in court:

Hare was the president and managing member of Apollo Search Partners LLC, a staffing agency with an office in New Jersey. On June 16, 2017, Hare had Apollo enter into a financing agreement with a commercial finance lender that offered funding to companies so that they could meet payroll and other obligations. The lender agreed to provide funding to Apollo. In order to get funding, Apollo would provide the Victim Company invoices and supporting time cards for each person Apollo staffed with a client.

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Between June 20, 2017 and Aug. 15, 2017, Hare submitted more than 15 invoices to the lender even though Apollo never staffed most of the individuals listed on the invoices and the time sheets submitted with the invoices included hours that were never worked. Based on those invoices, the lender provided more than $400,000 to Apollo between June and August 2017. To date, the lending company has not received reimbursement for that funding.
The charge carries a maximum potential penalty of 20 years in prison and $250,000 fine, or twice the gross gain or loss from the offense. Sentencing is scheduled for Jan. 4, 2019.

U.S. Attorney Carpenito credited and special agents of the FBI, under the direction of Special Agent in Charge Gregory W. Ehrie in Newark, with the investigation leading to today’s guilty plea.

The government is represented by Assistant U.S. Attorneys Andrew Kogan of the U.S. Attorney’s Office Cybercrime Prevention and Enforcement Unit and Sarah Devlin of the Asset Recovery and Money Laundering Unit in Newark.